December 18, 2023
(press release)
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Ultima® Templok® ceiling panels address demand for solutions that reduce energy use and carbon emissions in buildings LANCASTER, Pa.--(BUSINESS WIRE)-- Armstrong World Industries, Inc. (NYSE: AWI), a leader in the design, innovation and manufacture of ceiling and wall solutions, announced today that it has launched a new, innovative ceiling product that can reduce energy usage in commercial buildings. The new Ultima® Templok® solution features AWI mineral fiber ceiling panels with integrated phase change material (PCM) that can reduce building energy costs and consumption while also enhancing thermal comfort. “Customer demand for new solutions that help reduce energy use in the built environment is at an all-time high, and this makes sense considering that buildings account for approximately 40% of global energy use,” said AWI CEO and president Vic Grizzle. “Our Ultima® Templok® ceiling panels add a new performance attribute to our Mineral Fiber portfolio – energy savings. With PCM technology, we believe these panels can lower a building’s energy use and carbon emissions by reducing cooling and heating costs. Our investment in PCM technology establishes a broad platform for a multi-generational line of energy saving ceiling products that we believe will create a catalyst for increased replacement and renovation activity throughout our markets. Now, our customers can better justify replacing their ceilings for energy saving ceilings because of the meaningful financial and environmental benefits they can provide.” The development of Ultima® Templok® ceiling panels was facilitated by the recent acquisition of the Templok business and certain manufacturing and technology assets from Insolcorp, LLC, a PCM technology company headquartered in Albemarle, N.C. This investment provides AWI with intellectual property and unique equipment to produce PCM. When integrated with AWI ceiling panels, PCM absorbs and releases heat as temperatures inside a building rise and fall, thereby regulating room temperature with lower energy usage. The company’s research estimates that installing these tiles can reduce energy cost and consumption by up to 15%* as measured in lab tests. More information about this product can be found here. *Measured cooling energy savings in lab tests. Results may vary. See TEMPLOK Technical Guide for details. About Armstrong World Industries Armstrong World Industries, Inc. (AWI) is a leader in the design and manufacture of innovative ceiling and wall system solutions in the Americas. With $1.2 billion in revenue in 2022, AWI has approximately 3,100 employees and a manufacturing network of 17 facilities, plus seven facilities dedicated to its WAVE joint venture. Uncertainties Affecting Forward-Looking Statements Disclosures in this release and in our other public documents and comments may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements provide our future expectations or forecasts and can be identified by our use of words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "outlook," "target," "predict," "may," "will," "would," "could," "should," "seek," and other words or phrases of similar meaning in connection with any discussion of future operating or financial performance. Forward-looking statements, by their nature, address matters that are uncertain and involve risks because they relate to events and depend on circumstances that may or may not occur in the future. As a result, our actual results may differ materially from our expected results and from those expressed in our forward-looking statements. A more detailed discussion of the risks and uncertainties that could cause our actual results to differ materially from those projected, anticipated or implied is included in the “Risk Factors” and “Management’s Discussion and Analysis” sections of our reports on Forms 10-K and 10-Q filed with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made. We do not undertake or assume any obligation to update or revise any forward-looking statements beyond what is required under applicable securities law.
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